[Jan 24, 2023] Reliable 1z0-1055-22 Exam Tips Test Pdf Exam Material
New 2023 1z0-1055-22 Test Tutorial (Updated 142 Questions)
Oracle 1z0-1055-22 Exam Syllabus Topics:
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NEW QUESTION 41
What are the two advantages of using a spreadsheet for correcting invoice import errors? (Choose two.)
- A. ability to enter a high volume of invoices via a spreadsheet
- B. identification of errors with clear error messages at the invoice header and line levels
- C. ability to correct errors and re-import invoices directly from a spreadsheet
- D. ability to correct errors within the spreadsheet and send invoice corrections for approval
- E. identification of errors with clear error messages at the invoice header level only
Answer: A,C
Explanation:
A: You can fix the interface table data using the Correct Import Errors spreadsheet and resubmits the import process.
E: Consider using the spreadsheetto:
Expedite high volume invoice entry for simple invoices that don't require extensive validation.
Create invoices with similar lines.
Maximize the use of spreadsheet features, such as copy and paste, or hide and unhide.
References:https://docs.oracle.com/cloud/latest/financialscs_gs/FAPPP/FAPPP1011878.htm
NEW QUESTION 42
You have two business units, Vision Operations and Vision Services. How can you enable expense auditors to audit expense reports for specific business units?
- A. Assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles to each Expense Auditor.
- B. Assign the Expense Auditor as the owner of each business unit.
- C. Assign the Expense Auditor job roles to each auditor.
- D. Use segment valuesecurity rules to secure access to business units.
Answer: A
Explanation:
You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example, to allow an expense auditor toaudit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.ht
NEW QUESTION 43
Your client company wants to ensure that the payments they are sending to their financial institution are valid and formatted correctly. They would like to identify any validation failures as early in the process as possible.
Where would you suggest the validations are set?
- A. Disbursement Bank Account
- B. Payment Format
- C. Payment Terms
- D. Payment Method
- E. Supplier Site
Answer: D
NEW QUESTION 44
You need to enter a last-minute invoice during the close process. What is the quickest way to enter and post the invoice to general ledger?
- A. Enter the invoice via a spreadsheet and then validate, account, and post the invoice from the spreadsheet.
- B. Enter the invoice via a spreadsheet. Then, from the Manage Invoices page, query the invoice, validate it, create accounting, and then open general ledger's Manage Journals page and post the associated invoice journal entry.
- C. Enter the invoice in the Create Invoice page, choose the Validate option, and then the Account and Post to Ledger option.
- D. Enter and post a manual journal entry directly into the general ledger.
Answer: B
NEW QUESTION 45
You want your expense auditors to audit only expense reports for specific business units. How do you do this?
- A. Create your own audit extension rules that correspond to the business unit.
- B. Assign the expense auditors job role and business unit security context and value to the user.
- C. Create a custom duty role and assign the data roles to each auditor.
- D. Make auditors the managers of the corresponding business unit to route expense reports properly.
Answer: B
NEW QUESTION 46
Which two statements are true related to configuration package? (Choose two.)
- A. You can export and import selected business units.
- B. You can export and import the allocation rules from the allocation manager.
- C. You can export and import selected business object services.
- D. You can export and import the approval rules from the approval management engine.
- E. You can export and import the custom roles from Oracle Identity Manager.
Answer: C,E
NEW QUESTION 47
The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct? (Choose three.)
- A. All related interest invoices are reversed if previously created.
- B. Any realized gain or loss previously calculated is reversed.
- C. All related withholding tax invoices are automatically voided.
- D. Voiding the payment automatically places an invoice on hold.
- E. Any previous accounting and payment records for an invoice are reversed.
Answer: A,B,E
Explanation:
D: When you void a payment, Payables automatically reverses the accounting and
payment records so your general ledger will have the correct information, and so the status of the
paid invoices is reset to Unpaid. Payables also reverses any realized gains or losses on foreign
currency invoices recorded as paid by the payment.
B: If you withhold taxes at payment time and you void a payment that paid an invoice with an
associated withholding tax invoice, then Payables automatically creates a negative (reversing)
invoice for the tax authority supplier to offset the amount of the tax withholding invoice. You
determine when you withhold taxes by selecting the Apply Withholding Tax option in the Payables Options page.
References: Oracle Payables User's Guide, Voiding Payments Using the Payments Window
NEW QUESTION 48
In the implementation project, there is a requirement to add new transactional attributes to the Expense Approver Report workflow notification.
Which two Business Intelligence catalog objects should you copy (or customize) and edit? (Choose two.)
- A. The Data Model
- B. The Style-Template
- C. The Output types
- D. The layout-template
- E. The original Source
Answer: B,D
Explanation:
Style Template: Provides styles such as the type of lines and fonts to use in tables, or the font type, size, and color to use for headings
Report: Contains a layout template that determines:
Which attributes appear in the notification, from the data model used for the report
What the notification looks like, leveraging components from the subtemplate and styles from the style template used for the report
NEW QUESTION 49
Before you can configure payment approval rules, your company must define a payment approval policy. Which three are done by the payment approval policy? (Choose three.)
- A. It allows approvers to review payments and decide whether or not to approve a payment.
- B. It determines which payments must go through the payment approval process.
- C. It defines when to initiate the payment approval process.
- D. It defines criteria for triggering the payment approval process, such as payment amount, bank account, or pay group.
- E. It defines a list of approvers who review payments and make final payment decisions.
Answer: C,D,E
NEW QUESTION 50
The payment build program has completed but with errors.
When submitting the payment process request, which processing option is used to review the error messages from the Manage Payment Process Request Inquiry?
- A. Enable debug for the payment format program.
- B. Set the validation failure handling for payments to "stop process for review."
- C. Set the validation failure handling for documents to "show errors."
- D. Set the validation failure handling for payments to "show errors."
Answer: B
NEW QUESTION 51
Identify what Oracle considers two best practices when setting up Payables and Receivables account access for bank reconciliation. (Choose two.)
- A. Business units must be granted access to the bank account.
- B. Do not assign bank accounts to business units.
- C. Assign a few general ledger cash accounts to multiple bank accounts to facilitate book-tobank reconciliation.
- D. Allow bank accounts to be accessed by all roles and users because the default value to secure a bank account by users and roles is No.
- E. Only business units who use the same ledger as the bank accounts owning legal entity can be assigned access.
Answer: A,E
Explanation:
Account Access
Payables and Receivables account access is secured by business unit. In addition to selecting theappropriate application use or uses, one or more business units must be granted access before the bank account can be used by Payables and Receivables. Only business units that use the same ledger as the bank accounts owning legal entity can be assigned access.
NEW QUESTION 52
Which three are valid reasons why you cannot close your Payables period? (Choose three.)
- A. Bills payable requiring maturity
- B. Unaccounted invoices and payments
- C. Incomplete payment files
- D. Suppliers on payment holds
- E. Unapplied prepayments
Answer: A,B,C
NEW QUESTION 53
How will system evaluate the tolerances for expense reports?
- A. System will calculate error tolerance as Policy Rate * (1+Warning Tolerance+ Error Tolerance/100).
- B. System will calculate error tolerance as (|Policy Rate * (1+Error Tolerance/100)|) currency precision.
- C. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100)*currency precision.
- D. System will use absolute amount tolerance setup to do validations.
- E. System will calculate warning tolerance as Policy Rate * (1+Warning Tolerance/100).
Answer: E
Explanation:
Error: A percentage is used to calculate an error. The error tolerance amount is calculated as follows:
Policy Rate * (1+Error Tolerance/100)
References:https://docs.oracle.com/cd/E60665_01/financialscs_gs/FAIEX/F1456644AN125F2.htm
NEW QUESTION 54
A company has a requirement to pay small suppliers outside of Payables, but it does not want to manually record each payment.
Which solution should you implement?
- A. Create payments by using Electronic Funds Transfer (EFT) for those suppliers but do not send the electronic file to the bank.
- B. Create a payment by using a wire payment method for those suppliers.
- C. Create payments by using a clearing payment method for thosesuppliers because this payment method does not generate a file.
- D. Create payments by using the Check Payment method for those suppliers and then destroy those checks.
Answer: B
Explanation:
When you create a payment outside of Payables, for example, using a typed check or wire transfer, within Payables you can record the payment and update the invoices that you paid.
NEW QUESTION 55
Which three are attributes that are recognized by Invoice Imaging? (Choose three.)
- A. Invoice Number
- B. Payment Method
- C. PO Number
- D. Terms Date
- E. Invoice Date
Answer: A,C,E
NEW QUESTION 56
Your company wants to generate intercompany transactions in USD but only if the amount involved is $3,000 USD or more. Which two intercompany system options are valid?
- A. Set the intercompany system option minimum transaction amount to $ 3,000 USD.
- B. Intercompany invoices will be generated for the minimum accountable amount set at the payable invoice options and receivable system options.
- C. Approval rules need to set the allow of the intercompany transactions to be routed to the receiver or provider.
- D. You cannot update the minimum transaction currency when intercompany currency is entered.
- E. Set the intercompany system option minimum transaction amount to $2,999.99 USD.
Answer: A,B
Explanation:
Define intercompany system options to set up intercompany processing rules at the enterprise level, based on your specific business needs.
Minimum Transaction Amount
The minimum transaction amount represents a minimum threshold intercompany transaction amount, and prevents the submission of immaterial transactions for small amounts, which are non-value added. In order to implement this rule, you must select a minimum transaction currency for processing intercompany transactions. These two system options must be related to ensure that when comparing a transaction amount to the minimum transaction amount, the two numbers are entered in the same currency, allowing for an accurate comparison.
References:https://docs.oracle.com/cd/E48434_01/fusionapps.1118/e49599/F1110451AN99BEF.htm
NEW QUESTION 57
You want your expense auditors to audit only expenses reports for specific business units. How do you do this?
- A. Create your own audit extension rules that correspond to the business unit.
- B. Assign the auditors' specific data roles for the corresponding business units.
- C. Create a custom duty role and assign the data roles to each auditor.
- D. Make auditors the managersof the corresponding business unit to route expense reports properly.
Answer: B
Explanation:
You can enable expense auditors to audit expense reports for specific business units by assigning them specific expense auditor data roles for the business units. For example,to allow an expense auditor to audit expense reports for the Vision Operations and Vision Services business units, assign the Expense Auditor Vision Operations and Expense Auditor Vision Services data roles, respectively, to the expense auditor.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAWDE/F1005004AN1204B.htm
NEW QUESTION 58
An installment for $1,000 USD is due for payment on January 10, 2019. The installment has two discounts: the first discount date is December 5, 2018 for $150 USD and the second discount date is December 20, 2018 for $50 USD. The Pay Date Basis on the supplier site is Discount.
You submit a Payment Process Request with the following criteria:
Payment Date = December 5, 2018
Pay Through Date = December 25, 2018
Date Basis = Pay Date
Always Take Discount option is enabled
What will be the resulting status of the installment and discount?
- A. The installment is selected and a discount of $150 USD is applied because the Always Take Discount option was enabled.
- B. The installment is not selected because the first discount date is before the Pay Through Date.
- C. The installment is selected but no discount is applied because the payment date is after the discount dates.
- D. The installment is selected and a discount of $50 USD (the second discount) is applied.
- E. The installment is selected and a discount of $200 USD ($150 + $50) is applied.
Answer: A
Explanation:
Discount Taken Amount is 150 USD. Although the Payment Date is after the discount dates, the first discount is taken because the option Always take discount is enabled.
References:https://docs.oracle.com/cloud/farel8/financialscs_gs/FAPPP/F1011879AN17393.htm
NEW QUESTION 59
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